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Ordinary legislative procedure First reading

Amending Regulations (EU) No 260/2012 and (EU) 2021/1230 as regards instant credit transfers in euro

A proposed EU law. Parliament and the Council must agree on the same text: Parliament adopts its position, then negotiates with the Council.

Where it stands: Completed: published in the Official Journal on 19 March 2024 and now EU law.

  1. ✓ Referred to committee 21 November 2022
  2. ✓ Committee work Report adopted 28 June 2023
  3. ✓ Tabled for plenary 3 July 2023
  4. ✓ Negotiations with the Council Deal approved in committee 11 December 2023
  5. ✓ Plenary vote Adopted 7 February 2024
  6. ✓ Published as law 19 March 2024
How a file moves through Parliament

A file is referred to one lead committee (others may give an opinion). Its rapporteur writes a draft report, committee members table amendments, and the committee votes to adopt the report. The report is then tabled for all MEPs; political groups can table further amendments, which are voted on before the final vote in plenary. For a law, Parliament’s adopted text is its first-reading position; Parliament and the Council then negotiate a common text (trilogues) which both must approve before it is published as law.

Who is working on it

Lead committee
ECON — Economic and Monetary Affairs
Rapporteur
MEP #218349 ECR
Shadow rapporteurs
MEP #197787 IDMEP #1992 PPEMEP #197496 S&DIvars IJABS RenewMEP #204420 Verts/ALEMartin SCHIRDEWAN The Left
For opinion
IMCO — Internal Market and Consumer Protection

The rapporteur drafts and negotiates the text for the lead committee; each other political group names a shadow rapporteur to follow the file.

The text, version by version

Adopted by Parliament · latest Adopted text TA9-0065/2024 7 February 2024 ✦ Parliament's position on a regulation amending Regulations (EU) No 260/2012 and (EU) 2021/1230 and Directives 98/26/EC and (EU) 2015/2366 as regards instant credit transfers in euro.⇄ what changed Tabled for plenary Report A9-0230/2023 3 July 2023 ✦ Parliament's amended version of the Commission proposal for a regulation on instant credit transfers in euro requires payment service providers (PSPs) that offer credit transfers to also offer sending and receiving instant credit transfers.⇄ what changed Committee draft Draft report (ECON) 2 March 2023 ✦ This is the rapporteur's draft report on the Commission proposal to amend Regulations (EU) No 260/2012 and (EU) 2021/1230 on instant credit transfers in euro. It adopts a first-reading position and tables amendments to the proposal.

Newest version first. Open a version to read it in full. “What changed” shows the differences paragraph by paragraph; ✦ lines are AI-written from the texts themselves.

Timeline

  1. Outcome
  2. 19 March 2024 Published in the Official Journal

    The act is now EU law.

  3. 13 March 2024 Signed by the Presidents of Parliament and the Council

    The last step before the act is published in the Official Journal.

  4. Plenary stage
  5. 7 February 2024 Plenary vote
    Sitting of 7 February 2024 📄 Adopted text TA9-0065/2024📄 Report A9-0230/2023
    Adopted Adopted by an overwhelming majority
    For 599 Against 7 Abstained 35

    Final vote on the provisional agreement at 12:55 · 93% of votes cast in favour · every MEP’s position →

  6. 5 February 2024 Debated in plenary

    MEPs debated the text in the chamber ahead of the vote.

    Sitting of 5 February 2024 📄 Council / Commission text C9-0362/2022📄 Report A9-0230/2023
  7. Negotiations with the Council
  8. 11 December 2023 Committee approved the deal reached with the Council

    The provisional agreement from the trilogues goes to the whole Parliament for a vote.

    📄 ECON-AG-757151
  9. 12 July 2023 Plenary endorsed the mandate to negotiate with the Council

    Parliament’s negotiators can now seek a compromise text with the Council (in “trilogues”).

  10. Plenary stage
  11. 3 July 2023 Report tabled for plenary

    This is the text all MEPs vote on. Political groups can still table amendments to it.

    📄 Report A9-0230/2023
  12. Committee stage
  13. 28 June 2023 Committee vote: report adopted

    ECON (Economic and Monetary Affairs) voted on the amendments and adopted the report that goes to plenary.

  14. 2 March 2023 Draft report published

    The rapporteur’s first text in ECON (Economic and Monetary Affairs). Members can table amendments before the committee votes.

    📄 Draft report (ECON)
  15. 21 November 2022 Referred to the ECON (Economic and Monetary Affairs) committee

    The lead committee prepares the report; IMCO (Internal Market and Consumer Protection) gives an opinion.